The influenza vaccines market is estimated to be valued at USD 8.30 billion in 2024 and with a CAGR of 7.1% over the forecast period 2024 - 2031. With rising cases of influenza each year, vaccine manufacturers are focusing on continuous innovation and new product development. Furthermore, governments across countries are implementing various programs to promote immunization, which is expected to drive the demand for influenza vaccines.
Market Dynamics:
Rapid innovation in vaccine technologies and increasing government support for immunization programs are the key factors driving the growth of the influenza vaccines market. Vaccine manufacturers are developing new formulations such as quadrivalent and influenza subunit vaccines that provide protection against four influenza virus strains. This is expected to increase the uptake of influenza vaccines over live attenuated influenza vaccines (LAIV). Additionally, favorable government initiatives such as national immunization programs aim to vaccinate more people and reduce the public health burden of influenza. For instance, the U.S. National Influenza Vaccination Week spreads awareness about the importance of annual flu vaccination. Such programs play a vital role in increasing the demand for influenza vaccines. However, stringent regulatory guidelines for vaccine approval and high R&D costs associated with new vaccine development may hamper the market growth to some extent over the forecast period.
Growing Government Initiatives for Immunization Programs
Government across various countries are promoting immunization programs in order to spread awareness about the importance of vaccination. Government programs like National Immunization Days and National Immunization Week aim to increase the immunization rates in the population. These initiatives educate people about vaccine-preventable diseases like influenza and also provide vaccines free of cost or at subsidized rates. The increased vaccination rate leads to higher demand for influenza vaccines, thereby driving the market growth.
Increasing Risk of Influenza Outbreaks
Influenza is a highly contagious viral infection that can cause epidemic every year. The changing strains of influenza virus also increase the risk of pandemics. As per the World Health Organization October 2023 press release, every year there are about 1 billion cases of influenza globally, out of which 3-5 million are severe cases that require hospitalization and around 290,000-650,000 respiratory -related deaths occur annually. This high disease burden drives the demand for influenza vaccines to control and prevent outbreaks. Government stockpiling of influenza vaccines also increases due to the threat of pandemics, positively impacting the market.
Challenges in Vaccine Development and Manufacturing
Developing vaccines against influenza viruses is challenging due to their ability to constantly mutate and evolve. Scientists have to annually predict the most likely circulating strains for developing seasonal vaccines. Even with accurate predictions, the manufactured vaccines may not perfectly match the circulating strains leading to reduced effectiveness. Manufacturing is also restrained by complex and expensive procedures like virus propagation in eggs, purification and inactivation which increases the production costs. These challenges hinder the timely availability of updated vaccines.
Vulnerability to Pandemic Influenza Viruses
While seasonal influenza vaccines adequately protect against recurring seasonal strains, they often fail during pandemics as the viruses may be completely novel. Developing pandemic vaccines requires time since conventional manufacturing methods take over 6 months. By the time pandemic vaccines are produced in large quantities, the pandemic may have already peaked in many countries. Pandemics severely strain healthcare capacity which restrains governments from extensive pandemic vaccination programs. These factors undermine the use of influenza vaccines during pandemics.
Cell-based and Recombinant Vaccine Production Technologies
Emerging technologies like cell-based and recombinant production methods offer new opportunities to address the manufacturing challenges of conventional egg-based methods. Cell culture-based vaccines can be rapidly produced in a more controlled environment and do not require maintaining a supply of eggs. Recombinant vaccines have additional advantages of scalability and needle-free administration technologies. As these new technologies mature, they will spur market growth by enabling flexible, timely and affordable vaccine production on a global scale.
Vaccine Co-Administration and New Formulations
Combining influenza vaccines with other recommended adult and pediatric vaccines presents an opportunity to improve vaccine coverage rates through co-administration. Quadrivalent formulations which protect against two influenza A and two B strains have better disease coverage. Nasal spray influenza vaccines offer needle-free delivery which can boost vaccine acceptance. Adjuvanted vaccines requiring lower antigen payloads may reduce manufacturing costs. Continued innovation in formulations aims to strengthen influenza prevention strategies.
Link: https://www.coherentmarketinsights.com/market-insight/influenza-vaccines-market-1705
Key Development
- On March 06, 2024, CSL Seqirus, a preeminent player in safeguarding public health on a global scale, unveiled its comprehensive readiness to distribute its influenza vaccine lineup for the 2024/25 season in the U.S. These vaccines are formulated based on the trivalent strains endorsed by the FDA's Vaccines and Related Biological Products Advisory Committee (VRBPAC).
- On February 15, 2024 Osivax, a distinguished biopharmaceutical firm, reported the initiation of its Phase 1 study (NCT06128382) for OVX033, a promising broad-spectrum sarbecovirus vaccine candidate, with the vaccination of the first participant. This single-center trial is designed as a randomized, double-blind, placebo-controlled Phase 1 clinical investigation aimed at assessing the safety and immunogenicity of OVX033 across three dosage levels (100 µg, 250 µg, and 500 µg).
- In October 2023, Pfizer Inc., a leading pharmaceutical and biotechnology entity, in collaboration with BioNTech SE, a prominent biotechnology firm, unveiled encouraging topline findings from a Phase 1/2 study (NCT05596734). This study evaluated the safety, tolerability, and immunogenicity of mRNA-based combination vaccine candidates targeting influenza and COVID-19 in a cohort of healthy adults aged 18 to 64.
- In October 2023, AstraZeneca, a pioneering biopharmaceutical firm driven by scientific innovation, revealed that the U.S. Food and Drug Administration (FDA) has given acceptance to its Supplemental Biologics License Application (sBLA) aimed at endorsing a self- or caregiver-administered alternative for FluMist Quadrivalent, a needleless nasal spray. Should this application be granted approval, FluMist would mark the first flu vaccine eligible for self-administration by qualified individuals or their caregivers, offering an additional avenue for influenza vaccination.
Key Players: Seqirus, GlaxoSmithKline plc, Sanofi, AstraZeneca, FluGen Inc., Moderna Inc., Biocryst Pharmaceuticals Inc., CPL Biologicals Pvt. Ltd., CureVac AG, OSIVAX, Solaris Vaccines, Pfizer, CSL, Daiichi Sankyo, Bharat Biotech, and Sinovac Biotech
